Sina Tech, 7/20/11
Beijing-based online music provider Orca Digital, which operates music site Top100.cn, recently obtained approximately USD 20 mln in second-round funding led by China Media Capital (CMC). Once the current round of funding is complete, CMC and Google will be Orca's largest shareholders.
Orca CEO Gary Chen previously said that the company plans to acquire several domestic online music sites in order to obtain new technology or expand its user base. Music sites are exploring different business models such as value-added services and music-based games, according to Chen, who added that Orca aims to IPO as soon as possible.